Business
INTERIM STATEMENT
INTERIM STATEMENT.
About this update from Griffin Mining Limited
[{"type":"text","content":"\n \nRNS Number : 9470U Griffin Mining Ld 04 August 2015 \n\n \n \nGriffin Mining Limited\n \n60 St James's Street, London SW1A 1LE, United Kingdom\nTelephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773\nE mail: [email protected]\n \n4th August 2015\n \nINTERIM STATEMENT\nfor the six months ended 30th June 2015\n \nGriffin Mining Limited (\"Griffin\" or \"the Company\") has today released its results for the six months ended 30th June 2015.\n \nHighlights:\n \n· Revenues of $35.2 million (2014: $33.2 million)\n \n· Operating profit of $6.4 million (2014: $7.6 million)\n \n· Profit before tax of $3.7 million (2014: $5.8 million)\n \n· Profit after tax of $2.2 million (2014: $3.7 million)\n \n \nFinancial and Trading:\n \nThroughput of 418,950 tonnes of ore in the six months to 30th June 2015 at Griffin's Caijiaying Mine was up 2.5% on that achieved of 408,671 tonnes in the six months to 30th June 2014. With effort directed to improving precious metal recoveries, metal in concentrate production in the period was:\n \n· 20,081 tonnes of zinc (2014: 19,147 tonnes); \n· 962 tonnes of lead (2014: 609 tonnes); \n· 193,098 ounces of silver (2014: 147,901 ounces); and\n· 6,274 ounces of gold (2014: 5,999 ounces), a record high. \n \nMetal in concentrate production in the six months to 30th June 2015 compared to that in the six months to 30th June 2014 benefited from better grades and better lead and gold recoveries. \n \nZinc revenues before royalties and resource taxes in the six months to 30th June 2015 were $26,288,000 (2014 $24,860,000) having benefited from higher prices achieved whilst lead and precious metals revenues were $10,799,000 (2014: $10,222,000) with increased quantities sold albeit at lower prices. \n \nCost of sales in the six months to 30th June 2015 was up on the same period in 2014 mainly as a result of increased processing costs with efforts directed at improving precious metal recovery rates. Net operating costs were up with increased regulatory, environmental and social security costs in China. \...